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Tourism increase helped the car rental industry

Car Inc.experienced a significant surge in car rental requests during July and August, with a 50% year-over-year increase, surpassing pre-pandemic levels. New customer orders spiked by nearly 80%, and long-term rentals rose by 70%. Demand for new energy vehicles also grew by over 150%.

Car Inc., a prominent Chinese car rental company, has reported a significant upsurge in car rental requests during the months of July and August.

The company disclosed that their total car rental inquiries in China witnessed a noteworthy year-over-year increase of about 50%, surpassing the levels seen in the pre-pandemic year of 2019. This heightened demand can be attributed to the increased travel activity during the summer season. Additionally, the company highlighted that orders from new clientele spiked by nearly 80%, establishing a new unprecedented record. A majority of these orders, more than 80%, were placed across various cities.

It’s worth noting that China’s car rental services have experienced a substantial uptick in longer-term rentals of five days or more, reflecting a 70% year-on-year increase. Car Inc. also provided data indicating a remarkable growth of over 150% year-on-year in requests for rental services of new energy vehicles. This can be attributed to the country’s enhanced infrastructure, including charging stations, which was introduced in 2019.

China’s domestic tourism industry received a significant boost during the summer months, with over 1.8 billion tourist trips and tourism revenues totaling 1.21 trillion yuan (approximately USD 138 billion). Car Inc. has witnessed a surge in bookings for car rental services for the upcoming Mid-Autumn and National Day holidays, with bookings surpassing 200% compared to the same period last year and exceeding 30% compared to 2019. In the current year, the services sector has played a pivotal role in China’s economic growth.

According to the National Statistics Authority, prices for travel and accommodation in August increased at a faster pace compared to the previous year, confirming the strong demand for service consumption.

Vicky Karantzavelou
Co-Founder & Chief Editor - TravelDailyNews Media Network

Vicky is the co-founder of TravelDailyNews Media Network where she is the Editor-in Chief. She is also responsible for the daily operation and the financial policy. She holds a Bachelor's degree in Tourism Business Administration from the Technical University of Athens and a Master in Business Administration (MBA) from the University of Wales. She has many years of both academic and industrial experience within the travel industry. She has written/edited numerous articles in various tourism magazines.